With a recent investment by CIM Group of LA, this project could be back on track.
An article in the 1/12/12 Miami Today states that Miami Worldcenter might rise piecemeal.
Las Vegas Sands CEO Sheldon Adelson hosted local leaders in an office suite overlooking a potential Sands Miami site on the land known as the Miami World Center, a cluster of parking lots and night clubs a short walk from the AmericanAirlines Arena.
“He likes to talk, mostly about him and the things he’s done… He never mentioned any political allegiances,’’ Miami Mayor Tomas Regalado said of Adelson. The two of them met in an office suite in downtown’s Everglades residential tower late last year, near where Sands hopes to build a roughly 1,500-room hotel and a convention center twice the size of the one in Miami Beach.
“He didn’t promise anything,’’ Regalado continued. “He just said, ‘I’m here to tell you who I am.”
Read more here: http://www.miamiherald.com/2012/01/27/v-fullstory/2612070/sands-ceo-backs-gingrich-and-a.html#storylink=cpy
I Hope it gets open soon.
Word is that Mekka nightclub is being closed. Miami Worldcenter owns the building and is planning to demolish it, so the lease has not been renewed. The Mekka property is directly behind 900 Biscayne.
It is most likely indicative that they plan to use the property in the near future.
sandman, post: 461, member: 1 wrote: Word is that Mekka nightclub is being closed. Miami Worldcenter owns the building and is planning to demolish it, so the lease has not been renewed. The Mekka property is directly behind 900 Biscayne.
Maybe they can build the same nightclub in that miami worldcenter.
mekka nightclub isn’t classy enough for worldcenter
FOR IMMEDIATE RELEASE: CIM GROUP INVESTS IN MIAMI WORLDCENTER Investment Recapitalizes Large Downtown Miami Development Site MIAMI (Nov. 1, 2011)— Miami Worldcenter Associates, a joint venture between South Florida-based Falcone Group and Centurion Partners, announced today that it has sold an equity stake in the Miami Worldcenter site to CIM Group, a Los Angeles-based real estate investment company that makes equity and/or debt investments in urban communities throughout North America. The nine-square block, mixed-use development is situated immediately north of the Central Business District and is strategically located in close proximity to both public transit as well as such regional transportation hubs as Miami International Airport and the Port of Miami. It is also conveniently located near such entertainment venues as the American Airlines Arena and Adrienne Arsht Center for the Performing Arts; as well as area museums, colleges and government centers. The site is also within minutes of Miami Beach. In 2008, the Miami City Commission approved a development agreement with Miami Worldcenter and endorsed its Master Plan, guaranteeing specific zoning considerations for the next 20 years. The Master Plan was created by renowned architectural firm Elkus/Manfredi and is one of the largest private master-planned urban environments in the… Read more »
Miami Worldcenter partners purchased more land on March 15, 2012.
The land is located between Northeast 1st and Northwest 1st avenues, and 7th and 11th streets.
The purchase price was $8.7 million.
New Owner of Miami Worldcenter CIM to Build Tallest New York Residential Tower: 82- story, 1,397-foot
Miami Worldcenter’s new owner CIM Group is now underway on 432 Park, which will rise nearly 1400 feet to become the tallest building in New York:
Las Vegas Sands chairman and CEO Sheldon Adelson wrote a check last week for $250,000 to Florida Governor Rick Scott’s PAC.
LVS has publicly expressed interest in the Miami Worldcenter site.
Miami Worldcenter might be getting even bigger.
The owners of Miami Worldcenter are closing in on the purchase of the Miami Arena site for $35 million.
The site is currently the home of Grand Central Park.
The Grand Central Park/Miami Arena land is also directly adjacent to the proposed All Aboard Florida Mixed Use station in downtown Miami.
In addition, the Grand Central nightclub across from the park is currently listed for sale.
All Aboard Florida is probably the catalyst for this acquisition. We haven’t seen anything yet. Wait until we Tri Rail starts running commuter rail on the FEC tracks from Miami to West Palm. TODs will start popping up like weeds around new the train stations. The rail line will have a significant impact as to how developers plan for their next project. It will be all about TOD for the next couple of decades. Got money? Buy near the FEC line. You can see where the future trains stations will be here…
The owner of the Miami Worldcenter land has purchased the Miami Arena land for $35 million
Grand Central Park Gets A New Landlord – Operations Remain The Same. The Old Miami Arena site, currently used for the successful Grand Central Park project, changed ownership last week with the sale of the parcel for $35 million. The Park will remain open for the two-year duration of the current lease. FOR IMMEDIATE RELEASE PRLog (Press Release) – Oct 09, 2012 – October 9 – Miami, FL – The site of the Former Miami Arena, currently the site of Grand Central Park, the largest pop-up park in the nation, changed ownership last week. The 4.7 acre parcel, was sold by Palm Beach Polo Club owner Glenn Straub to Old Arena, LLC, controlled by Miami Worldcenter principals, Art Falcone and Nitin Motwani. The sale was recorded last week in the Miami-Dade County tax roll at $35 million. Bradley Knoefler, Founder and President of the Omni Parkwest Redevelopment Association Inc. (501(c)(3)), a Florida non-profit corporation based in Miami, was positive about the purchase and pointed out that the ownership change will have absolutely no effect on the Park project. “Grand Central Park simply has a new landlord and will continue to operate as a community recreational and activity center for the… Read more »
Wandered over there today and ran into Brad. Awesome guy
Sean, post: 2200, member: 42 wrote: Wandered over there today and ran into Brad. Awesome guy
Any insight into the project, or the sale of his own Grand Central building?
sandman, post: 2208, member: 1 wrote: Any insight into the project, or the sale of his own Grand Central building?
He’s just really optimistic, and really involved in the political end of it. Mark, another GCP guy, mentioned the city looking at new Parklette rules, or something…
Oh and they’re sodding in most of the central portion of the park that up until now has been gravel, and the new landlords are very supportive.
A detail that has not been reported in any of the above news articles:
As part of the $35 million deal to purchase the old Miami Arena site, former owner Glenn Straub gave the Miami Worldcenter partners a $24 million loan.
Future Home of Miami Worldcenter
The Grand Central building at 697 N. Miami Ave. in downtown Miami has been sold for $4.6 million.
Built in 1920 for Florida East Coast Railway, the property is adjacent to land owned by Miami Worldcenter group.
A key piece has been added to Miami Worldcenter’s already extensive land holdings in Park West, exMiami can exclusively report.
An affiliate of Miami Worldcenter Associates purchased the former Camillus House site at 726 NE 1st Avenue for $3 million. The transaction closed in August after the building was demolished. The 19,600 square foot site is included in the Miami Worldcenter Special Area Plan.
Sources have told us that a Miami Worldcenter affiliate has also purchased the Grand Central nightclub building at 697 N. Miami Avenue for $4.6 million, although we have not confirmed this. The 19,020 square foot Grand Central building is on a 12,000 square foot lot and was built in 1920 for Florida East Coast Railway. That property is also included in the Worldcenter SAP.
A Miami Worldcenter affiliate also purchased the 4.7 acre former Miami Arena site in October for $35 million.
Miami Worldcenter land purchases in 2012:
Historic Grand Central Building In Downtown Miami Sells For $4.6 Million
Can’t wait to see what the “new” site plan is.
What will the rail line along 7th street do to the project. From the rendering of miami world center, it looks like it doesn’t take into account that railroad. Would they build around it it, or just abandone everything south of the line.
Chrismiran, post: 3029, member: 385 wrote: What will the rail line along 7th street do to the project. From the rendering of miami world center, it looks like it doesn’t take into account that railroad. Would they build around it it, or just abandone everything south of the line.
I believe they are going to build around/above it.
Miami Worldcenter Group is currently finalizing agreements to bring prominent artists to its property in downtown Miami in the coming months, according to managing director Nitin Motwani as quoted in Miami Today.
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